Alexandria Minerals Corporation
TSX VENTURE : AZX

Alexandria Minerals Corporation

June 08, 2006 14:23 ET

Alexandria Begins Airborne Survey in Quebec

TORONTO, ONTARIO--(CCNMatthews - June 8, 2006) - Alexandria Minerals Corporation (The "Company") (TSX VENTURE:AZX) has completed an Induced Polarization ("IP") survey on its Matachewan Property and will begin an airborne geophysical survey on three of its Quebec properties as part of its ongoing program to identify drill targets.

The Company's Matachewan Property straddles the Cadillac-Larder Lake Tectonic Zone (CLTZ), 3 km east of the Young-Davidson Mine, where Northgate Minerals Corporation recently announced a drill hole intersection of 8.92 g/t gold over 218.5 feet, including 33.49 g/t gold over 32 feet (May 25, 2006). The Matachewan IP survey completes planned surface work over the eastward extension of inferred geologic structures and alteration zones identified by previous geophysical work and drilling, notably along the CLTZ and nearby subsidiary geological structures. The data is currently being processed.

The airborne survey is designed to accomplish several tasks including helping to determine drill targets on the Company's newly acquired Stabell property in Val d'Or. The Stabell Mine shaft #2 lies along strike with the adjacent Sullivan Mine (1.2 million ounces of gold produced) and the Company's Siscoe East property further to the northwest. Channel sampling in the Stabell underground workings yielded up to 0.450 ounces per ton with widths up to 1.52 m. The company is currently compiling and interpreting historical data from the Stabell mine. This data will be combined with the geophysical information from the airborne survey to form the basis for drilling, intended to commence later in summer.

The 443 line-km airborne survey, to be conducted by Terraquest Inc., of Ontario, will also cover the Company's Joannes Township claim groups and the Gwillim property in Chibougamau. The Joannes Township property, which lies 20 km east of Noranda, Quebec, covers approximately 6 km of strike length of the CLTZ, and lies 500 m east of the past-producing Hosco gold mine. Historic exploration drill holes on the property have yielded numerous intersections greater than 6 g/t gold over 1.5 m, up to 12.00 g/t gold over 1.5 m, both on the CLTZ and on subsidiary zones. In addition to this work the company has begun a surface prospecting and mapping program on the Joannes property, with particular emphasis on testing recently observed pyrite-arsenopyrite-bearing outcrops.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.

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